Blackstone Bolsters Indian Real Estate Stake with Kolte-Patil Acquisition

The Competition Commission of India (CCI) has given the green light for Blackstone, a global asset manager, to acquire a 40% stake in Kolte-Patil Developers, a prominent real estate company based in Pune. This move marks Blackstone's strategic entry into the Indian residential market.

The transaction, executed through Blackstone's affiliate BREP Asia III India Holding Co VII Pte Ltd, involves a share subscription and purchase, including an open offer to acquire shares from public shareholders, totaling an investment of Rs 1,150 crore.

Blackstone, with a longstanding presence in India, aims to expand its investment from USD 50 billion to USD 100 billion, reinforcing its stronghold in the Indian real estate sector. This acquisition aligns with its broader strategy of diversifying its portfolio across various verticals.

(With inputs from agencies.)